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in product delivered between 1980 and 2000, and you can see what’s coming. What exactly is coming, you ask?
Just as localized decision making has dominated leasing activity in southwestern Pennsylvania of late, the Fortune 1000 is who has been driving trends in the Gateway and major markets since those are the locations of their HQ and HQ2 operations. Have they been flying to affordability? No, they are taking the newest and highest priced office product available. That demand will return to secondary markets and, when it does, we will see increased leasing activity in our trophy-caliber product. And when this activity does return, it will be a broad rally not only from a standpoint of location but also in product type. In addition to delivering next-generation office space to the market during the pandemic, our development community has been hard at work in delivering purpose-built product for tech-flex and life science industries. Our region has been getting it done during the pandemic. Now it’s time for the rest of the world to take notice of its tremendous inventory of competitive work space. DP
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JLL 260 Forbes Avenue, Suite 1200 Pittsburgh, PA 15222 412-208-1400 Jason Stewart, Managing Director Jason.Stewart@am.jll.com
Henry W. Oliver Building 535 Smithfield Street, Suite 1300 Pittsburgh, PA 15222 412.456.2800 | muslaw.com
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